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Nomination Board

Valmet’s Annual General Meeting resolved on March 26, 2014 to establish a Shareholders' Nomination Board to prepare proposals concerning the election and remuneration of the members of the Board of Directors to the General Meetings.

The Nomination Board shall comprise representatives nominated by the four largest shareholders of the company and the Chairman of the Board of Directors. The right to nominate representatives shall be vested with the four shareholders of the Company having the largest share of the votes represented by all the shares in the Company annually on September 1 based on the company’s shareholders' register held by Euroclear Finland Ltd. However, if a shareholder who has distributed his/her holdings, e.g. into several funds and has an obligation under the Finnish Securities Markets Act to take these holdings into account when disclosing changes in share of ownership makes a written request to such effect to the Chairman of the Board of Directors no later than on August 31, such shareholder’s holdings in several funds or registers will be combined when calculating the share of votes which determines the nomination right. Should a shareholder not wish to exercise his/her nomination right, the right shall be transferred to the next largest shareholder who otherwise would not be entitled to nominate a member.

The Chairman of the Board of Directors shall convene the first meeting of the Nomination Board and the Nomination Board shall elect a chairman from among its members. The Nomination Board shall give its proposal to the Board of Directors annually no later than January 31 preceding the next Annual General Meeting. The term of the Nomination Board ends each year upon the appointment of the new Nomination Board.

 

Valmet Nomination Board Charter, approved by the Annual General Meeting 2014

  

Composition of the Nomination Board

The members of the Nomination Board, as announced on September 6, 2017, are:

Antti Mäkinen,
Managing Director       

Solidium Oy
11.14% of share capital and votes

 

Satu Huber,
CEO

Elo Mutual Pension Insurance Company
2.81% of share capital and votes

 

Risto Murto,
President and CEO

Varma Mutual Pension Insurance Company
2.78% of share capital and votes

 

Timo Ritakallio,
President and CEO

Ilmarinen Mutual Pension Insurance Company
2.07% of share capital and votes

 

Bo Risberg, Chairman of Valmet's Board of Directors, will serve as the Nomination Board's expert member.


Updated; Sep 7, 2017